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Discussion and Debate
Discussion and Debate
Politics
American Politics
We Have a "Paying For It Problem"
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<blockquote data-quote="contango" data-source="post: 62467963" data-attributes="member: 265412"><p>It has to be one step at a time, I just don't quite see what you're suggesting as a solution to the trade deficit. If other nations wanted what we offer they would already be buying it. If they aren't buying it then we need to figure out what it is that they might want that they can't make themselves for less.</p><p> </p><p></p><p></p><p>We've been devaluing the currency for a while now by producing more of it, even though that currency has been in the form of debt. It has made the people closest to the fountains of money wealthier while making those further away poorer as prices have risen faster than their incomes.</p><p></p><p>If income goes up but the price of goods goes up faster then people are still no better off. They might feel wealthier but measured in terms of things they buy they are still behind the game. Put in simple terms if they used to earn a pizza in an hour but now earn 7/8 of a pizza they are poorer regardless of what numbers come after the $ sign.</p><p> </p><p></p><p></p><p>A painless recovery is impossible from here - the only question is who takes the pain and how much of it they take. My prediction is the people at the top will barely notice, the people at the bottom will be sheltered by some form of welfare system and the people in the middle will be crushed.</p></blockquote><p></p>
[QUOTE="contango, post: 62467963, member: 265412"] It has to be one step at a time, I just don't quite see what you're suggesting as a solution to the trade deficit. If other nations wanted what we offer they would already be buying it. If they aren't buying it then we need to figure out what it is that they might want that they can't make themselves for less. We've been devaluing the currency for a while now by producing more of it, even though that currency has been in the form of debt. It has made the people closest to the fountains of money wealthier while making those further away poorer as prices have risen faster than their incomes. If income goes up but the price of goods goes up faster then people are still no better off. They might feel wealthier but measured in terms of things they buy they are still behind the game. Put in simple terms if they used to earn a pizza in an hour but now earn 7/8 of a pizza they are poorer regardless of what numbers come after the $ sign. A painless recovery is impossible from here - the only question is who takes the pain and how much of it they take. My prediction is the people at the top will barely notice, the people at the bottom will be sheltered by some form of welfare system and the people in the middle will be crushed. [/QUOTE]
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We Have a "Paying For It Problem"
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